Full Closing Package

In a word, effortless.

Our Full Closing Mortgage does it all for you. We’ll formalize your loan, and our Settlement Agent partners will take care of the closing, including the complete handling of the title search and payment of funds.

What You Get

Documentation Services
We provide all the documents needed to set up a private mortgage:

• Promissory Note
  This is the meat and potatoes of your private loan. It puts in writing your loan principal, your interest rate, your payment frequency, and anything else in-between. You can even choose between a fixed-rate mortgage and an adjustable-rate mortgage (ARM).

• Standard Fannie Mae Mortgage or Deed of Trust
  We’ll secure the private loan with the property being purchased or refinanced.

• Accuracy Review
  We'll review your loan documentation to ensure the terms meet state and federal regulations for usury, late fees and grace periods. In other words, we'll help you dot the i's and cross the t's.

• Mortgage Recording Services
  Virgin Money makes sure the mortgage documentation is recorded with the appropriate government office so that there is an official record to show that the private lender holds a lien on the property. This offers protection for the lender and tax benefits for the borrower.

• Basic Owner Report
  A Basic Owner Report lists the current owner and the legal property description. So you know what you’re getting. Exactly.

Full Title Search
We gather and assess all records relating to the property as far back as 40 to 60 years (depending on your state).

Full Closing Services
Virgin Money will arrange for a local closing agent to:

• Establish and Manage an Escrow Closing Account
  Separate from an Escrow account for taxes and insurances, this account will hold funds distributed during the closing.

• Handle the distribution of funds

• Provide Lead Paint Disclosure
  Some state-specific disclosures such as flood, smoke detectors or radon gas may be required as well.

• Prepare the HUD Settlement Statement

• Make sure the documents are reviewed and notarized

Payment Processing Services
We make it easy and convenient to keep your private mortgage on track with hassle-free payment processing services starting at just $9 per payment. We use electronic funds transfers, monthly email statements and email reminders to make repayment convenient.

Toll Free Customer Support
Friendly client services representatives are available 9AM - 7PM Monday thru Friday EST to respond to changes in loan payments or help get a borrower back on track.